Tampa Real Estate Market Report for August 2017 – Lance Mohr – Tampa Realtor
Articles,  Blog

Tampa Real Estate Market Report for August 2017 – Lance Mohr – Tampa Realtor


Hi everyone. This is your Tampa Bay
Realtor Lance Mohr and in this video I’m gonna go over the market statistics
and reports for the month of August for Hillsborough County single-family homes
now I apologize upfront for my microphone it’s been acting up a little
bit so hopefully it’s good enough but as you can see right here starting off with
actives you could see the it’s down a little bit it’s not too surprising to
have August a little bit slower months than June and July just because schools
are going back in and you know people are getting situated to that but the big
surprise is over here in pending sales now pending sales is really what’s going
on in the market right now if you look at May that’s the height of 3416 homes
that were pending a sale and that’s quite a bit nays always a lot but we’ve
had a three month drop-off it went from 34 16 in May down to 32 39 in June to
3079 in July and 29 26 in August so we’ll have to keep our finger on this
and see what happens it’s not too surprising for them to go down in
September October November December because we’re going into the winter
months and it always slows down but it is slowed down a little bit right now it
looks like you’re not really seeing that over here in the sold homes and the
reason is because as I always tell you sold homes like behind people could have
had contracts on new build jobs six months ago they could erode a contract
on a pre-owned home which is predominantly what you’re seeing here
there are new homes in here but it’s predominantly pre-owned but they could
wrote a contract in June to close in August or wrote the contract in July to
close in August as you can see across the board the short sales and the bank
are are not much of the market on active it’s only 5% of the market and the
pending arena it’s 13% of the market and in the sole that 6% I might just combine
short sales and bank-owned and just go with distress sales because it’s just
getting um it’s just not in that direction anymore you can see we still
have a very very low inventory level so as far as the inventory goes again the
pending right here is lower it’s gone down three months in a row but if you
look at the inventory level right here two point one eight months of inventory
so again six months is a stable market we’re extremely low inventory and
builders are the same way builders cannot build homes fast enough right now
it’s just a crazy busy market on building if you are thinking of building
I’ll put a video up above you can watch everything you need to know from
building I’m building a new home from A to C a lot of really good money-saving
tips but let’s go over to August and we’ll just check out by price range
again overall the inventory level is 2.18 when you’re under $200,000
it is extremely tough if you go out there in you’re a buyer and you see a
home you like if it’s a nice home and a nice area and a nice subdivision you
need to write a contract right then you’re probably gonna get in multiple
bidding situation with that and even for two to three hundred thousand dollars
extremely tight two months of inventory all these are really tight they’re
they’re actually absurdly tight for the market that we’re in I mean even right
here you look over here two point eight one months in inventory that’s crazy
right there so there’s this it it’s just the markets really really tight if you
are a seller I mean again and I’ve told you before you want to make sure you
price your home realistically because still has to appraise in buyers you know
they’re they’re shrewd they’re going out there they’re looking they’re doing
their due diligence and as a buyer if you like the home you better get ready
to pull the trigger hopefully you’re hiring an agent that
understands these statistics they should they’re in business doing this if
they’re not you know give them these statistics or thank goodness you’re
looking at them if you have any questions whatsoever on the Tampa Bay
real estate market give me a call I’d love to help you if you’re looking for
an agent to represent you whether it’s pre-owned homes new homes
or you’re selling a home give me a call I’d love to talk to you as well have a
wonderful day I wish you the best of luck and thank you for watching my
videos please leave a comment also if you like these videos let me know if you
like these statistical reports please leave a comment let me know thank you
very much

3 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *